Germany's wholesale prices experienced their first increase in twenty months in December, as reported by Destatis on Wednesday. December saw a modest rise of 0.1 percent in wholesale prices compared to the same period last year, overturning November's 0.6 percent decline. This uptick marks the first such increase since May 2023.
The December price rise was largely attributed to significant hikes in the costs of non-ferrous ores, non-ferrous metals, and the semi-finished products derived from them; these prices escalated by 22.3 percent compared to the previous year.
Further data highlighted a notable surge of 34.3 percent in the wholesale prices of coffee, tea, cocoa, and spices in December. In contrast, the prices related to data processing and peripheral equipment saw a decrease of 6.0 percent.
On a month-to-month basis, wholesale prices showed a slight increase of 0.1 percent in December, after remaining stagnant in November.
For the year 2024, the overall average annual decrease in wholesale prices was recorded at 1.3 percent, in comparison to a 0.6 percent increase in 2023.
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